Riddle me this geniuses – Bitcoin was trading at $4210 just over 2 months ago when we first recommended buying it, why weren’t those same Chinese traders buying it then for a ~$4000 premium?

The reason is that at this point in the Bitcoin cycle, it’s simply trend/herd following and momentum strategies getting into the crypto space.

Anyways back to the main point, no one knows how or when tariff talks will conclude so we’re left with a lot of uncertainty and speculation as reflected in the price of the indices.

SPY and QQQ reclaimed their quarterly opens with IWM just a hair away.

This leaves the charts quite conflicted as we have SPY and QQQ trading above the weekly (purple) and quarterly (blue) opens but still red on the month (orange).

SPY – D – Weekly and Quarterly Green / Monthly Red

It’s a quandary I posed in the Weekly Outlook Video – how do we resolve this timeframe conflict when you are sandwiched in between the major timeframes?

The consequence of this timeframe conflict results in a lot of choppy price action and head fakes as we the market does what it does best and that is stop people out via the process of price discovery.

Stay agile and light-footed and as I mentioned in the Weekly Video ask yourself the question, in this market environment would you rather be a scout or a soldier?

ABOUT ME

My name is Houston Truong. I'm full-time independent North American equities, options, and cryptocurrency trader and have been trading for the past for 12 years. I coach traders around the world about the intersection between trading, peak performance, and psychology. I am also the founder of the Montreal Traders Meetup group.